Presidio Identity, Inc.
Offers a digital-native approach that brings security, privacy, and simplicity to user authentication and digital interactions, eliminating identity theft, financial fraud, and bad user experiences.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor investor investor | €0.0 | round | |
$3.5m | Seed | ||
| Total Funding | 000k | ||
| USD | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| % growth | - | 175 % | - |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Presidio Identity, Inc. operated as a digital identity protection platform, founded in 2020 by Dennis Moore, who also served as CEO, alongside co-founders Joshua Moore and Tommy Lau. The San Francisco-based company focused on providing cloud-based trust and identity services to combat identity theft and financial fraud, primarily targeting the banking and financial services sectors. Its mission was to enhance the security and trust of digital interactions through a digital-native approach that prioritized security, privacy, and user experience.
The company's core offering revolved around a platform that utilized technologies like document verification, device biometrics, and behavioral data collection to establish and verify user identities for processes such as KYC compliance. This enabled clients to mitigate risks associated with account takeovers and fraudulent transactions while providing their customers with a secure and simplified authentication process. The service was designed to give clients control over sensitive data and improve security without compromising the user experience.
Presidio Identity's funding journey included a seed round of $1.5 million in July 2020 and a subsequent Seed Plus round of $3.5 million in July 2021, bringing its total capital raised to approximately $5 million. Notable investors included Marc Benioff, founder of Salesforce, and Doug Merritt, CEO of Splunk, with Pelion Venture Partners leading the second funding round. The capital was intended to expand sales, marketing, and product operations. Despite its initial funding and product development, including plans for a "Digital Identity Early Access Program," information suggests the company ceased operations in January 2024.
Keywords: digital identity, identity verification, fraud prevention, KYC solutions, biometric authentication, financial security, cybersecurity, account takeover protection, document verification, identity and access management, Dennis Moore, cloud identity services, financial fraud detection, user authentication, secure digital interactions, fintech security, compliance technology, seed stage startup